The Vice-Chancellor of Bamidele Olumilua University of Education, Science and Technology, Ikere Ekiti (BOUESTI), Prof. Andrew Omojola*, has dismissed claims that the university abandoned its pensioners, revealing the institution has spent over N4.8 billion on pension and gratuity in the last five years.
Prof. Omojola spoke on Wednesday after some pensioners of the university staged a protest on Monday, September 14, over delayed pension payments.
In a statement made available in Ikere Ekiti, the VC said the university took note of the protest and assured the retirees the delay was not intentional.
“The university is currently owing pension for August 2026 and half of July. The delay is due to paucity of funds and a technical upgrade of our payment gateway by our bankers,” Omojola said.
“This delay is not intentional. Management is working assiduously and is hopeful that payment for August 2026 will be made on or before Friday, 19th September, 2026.”
He added that the outstanding 50 per cent of July 2026 pension will also be paid within the same period to alleviate the condition of retirees.
“We have maintained consistent monthly pension payments and the August 2026 delay is the first occurrence,” he noted.
N4.88bn Breakdown
Omojola gave a detailed breakdown of pension and gratuity obligations since 2021 to counter insinuations of neglect:
– Death pension: N205.069m
– Gratuity: N570.693m
– Pension arrears: N165.094m
– Monthly pension: N3.939bn
– TOTAL: N4.88bn
“For the record, the university has expended over N4 billion on pension and gratuity obligations since 2021,” he stated.
The VC stressed that management remains sensitive to the plight of pensioners.
“Management remains sensitive to the plight of our pensioners. We acknowledge their years of service and sacrifice to the university. We assure them that their welfare remains a top priority.”
He revealed that prior to the protest, management had engaged the EXCO of the retirees association and explained the challenges.
“It is regrettable that this did not prevent the action taken. We appeal to our retirees to remain calm while we conclude payment processes. We also urge the public to disregard any information suggesting that the University has abandoned its pension obligations,” Omojola said.
BOUESTI, formerly College of Education Ikere-Ekiti, was upgraded to a university and has been grappling with funding pressures like many state-owned tertiary institutions, even as the Ekiti State government pushes reforms in education.
